Mumbai, India-based Glenmark Pharmaceuticals plans to set up a new manufacturing facility at Monroe Corporate Center in Monroe, NC. The 102,000 square-foot building was completed in November and Monroe has been looking for a buyer ever since. According to the Enquirer-Journal, the Monroe City Council recently reduced the cost from $3.6 million to about $2,956,500.
The company will first begin work on an oral solid unit and later set up manufacturing units for injectables and topicals.
"Over the next five years, we will make significant investments in this proposed facility and set up three units which will produce oral solids, injectables and topicals,” said Glenn Saldanha, chairman and managing director. “With the setting up of a new facility in the US, we would further enhance our manufacturing footprint making it truly global in every sense of the term."
The company expects to start manufacturing activity by the end of the current financial year. It has been reported that Glenmark would create 41 jobs, with an average salary of $65,000 through $68,000. This facility is only for the U.S. market and is Glenmark's first manufacturing facility in North America, adding to its list of 14 plants in four countries—India, Brazil, Argentina, and Czech Republic. Glenmark operates in North America through its subsidiary Glenmark Generics, which has a portfolio of over 90 products authorized for distribution in the U.S. in niche segments like dermatology, hormones, controlled substances, oncology, and modified release products.